Rafferty Asset Management LLC Purchases 26,032 Shares of Oric Pharmaceuticals, Inc. $ORIC

Key Points

• Rafferty Asset Management LLC increased its stake in Oric Pharmaceuticals by 50.7%, owning 0.11% of the company valued at $432,000 after purchasing 26,032 additional shares.
• Oric Pharmaceuticals reported a quarterly earnings loss of ($0.47) per share, missing analyst expectations, with current stock trading at $10.38 and a market capitalization of $1.01 billion.
• Insider transactions include significant new purchases by Director Angie You and a sale by CFO Dominic Piscitelli, highlighting ongoing confidence and transactions among company executives.

Rafferty Asset Management LLC increased its position in Oric Pharmaceuticals, Inc. (NASDAQ:ORIC - Free Report) by 50.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 77,424 shares of the company's stock after buying an additional 26,032 shares during the quarter. Rafferty Asset Management LLC owned about 0.11% of Oric Pharmaceuticals worth $432,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Oric Pharmaceuticals by 0.4% in the first quarter. Vanguard Group Inc. now owns 3,215,887 shares of the company's stock valued at $17,945,000 after buying an additional 12,098 shares during the period. Vivo Capital LLC lifted its holdings in shares of Oric Pharmaceuticals by 62.8% in the first quarter. Vivo Capital LLC now owns 2,080,450 shares of the company's stock valued at $11,609,000 after buying an additional 802,632 shares during the period. NEA Management Company LLC raised its position in shares of Oric Pharmaceuticals by 4.4% during the fourth quarter. NEA Management Company LLC now owns 1,566,081 shares of the company's stock worth $12,638,000 after purchasing an additional 66,081 shares during the period. Balyasny Asset Management L.P. raised its position in shares of Oric Pharmaceuticals by 37.5% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,555,260 shares of the company's stock worth $12,551,000 after purchasing an additional 424,194 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Oric Pharmaceuticals by 16.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 717,188 shares of the company's stock worth $5,788,000 after purchasing an additional 103,237 shares during the period. Institutional investors and hedge funds own 95.05% of the company's stock.

Oric Pharmaceuticals Trading Up 0.3%

ORIC stock traded up $0.03 during mid-day trading on Monday, hitting $10.91. The stock had a trading volume of 210,721 shares, compared to its average volume of 1,085,276. Oric Pharmaceuticals, Inc. has a 1-year low of $3.90 and a 1-year high of $14.67. The company has a fifty day moving average of $10.41 and a 200 day moving average of $8.09. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of -5.76 and a beta of 1.63.

Oric Pharmaceuticals (NASDAQ:ORIC - Get Free Report) last issued its earnings results on Tuesday, August 12th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.46) by ($0.01). As a group, sell-side analysts expect that Oric Pharmaceuticals, Inc. will post -2.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Angie You acquired 26,597 shares of the business's stock in a transaction that occurred on Friday, June 20th. The shares were acquired at an average cost of $9.39 per share, with a total value of $249,745.83. Following the purchase, the director owned 26,597 shares of the company's stock, valued at approximately $249,745.83. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Dominic Piscitelli sold 32,466 shares of the firm's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $10.50, for a total value of $340,893.00. Following the completion of the transaction, the chief financial officer directly owned 68,317 shares in the company, valued at $717,328.50. The trade was a 32.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,100 shares of company stock worth $387,263 over the last three months. 5.55% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ORIC. Wedbush reaffirmed an "outperform" rating and set a $20.00 target price on shares of Oric Pharmaceuticals in a research report on Monday, June 23rd. Guggenheim began coverage on Oric Pharmaceuticals in a research report on Thursday. They set a "buy" rating and a $18.00 target price on the stock. Zacks Research raised Oric Pharmaceuticals to a "hold" rating in a research report on Tuesday, August 12th. LADENBURG THALM/SH SH assumed coverage on Oric Pharmaceuticals in a research report on Tuesday, July 8th. They set a "buy" rating and a $15.00 price target on the stock. Finally, HC Wainwright reduced their price objective on Oric Pharmaceuticals from $22.00 to $19.00 and set a "buy" rating for the company in a research note on Thursday, August 14th. Eight equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $17.29.

Oric Pharmaceuticals Company Profile

ORIC Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, engages in the discovery and development of therapies for treatment of cancers in the United States. Its clinical stage product candidates include ORIC-114, a brain penetrant orally bioavailable irreversible inhibitor, currently under Phase 1b study, which is designed to selectively target epidermal growth factor receptor and human epidermal growth factor receptor 2 with high potency towards exon 20 insertion mutations; ORIC-944, an allosteric inhibitor of the polycomb repressive complex 2 for prostate cancer, currently under Phase 1b study; and ORIC-533, an orally bioavailable small molecule inhibitor of CD73, currently under Phase 1b study, being developed for resistance to chemotherapy- and immunotherapy-based treatment regimens.